Just agreed with my sister to send $$ every month from now on to our parents to support their retirement. I know there is enough to be said and asked about side hustles but right now I should start looking at each options. The allowance to my parents won't create a big burden on me financially it's just an extra expense on my FIRE journey. I am proud to be able to support my parents who don't have retirement safety net provided by the government.

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I don’t have anything to contribute, but just wanted to let you know I’m proud of you!

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I would say keep investing passively and don't take on more expenses and liabilities for side hustles. Spend money on special commercial insurance to drive Uber/Lyft, end up being too busy to do it enough to profit, end up losing money. Etc.

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+1 Uber is a terrible value proposition. It nets out to basically covering your car’s depreciation and is a commoditized labor market. Use your specialty skills somewhere instead.

Your parents should be proud of you, they raised a good kid

helpful

I think you have it exactly right. FIRE isn’t just to have lots of money, it has to have a purpose. Supporting family and helping my community is the whole reason why I’m investing and saving. Reducing suffering and making lives meaningful. Good work OP!

uplifting

OP you and your sister are good role models. Your parents raised you right!

uplifting

this is so admirable ❤️

helpful

OP you and your sister made a great decision. My two sisters and I subsidized my mom’s living expenses for many years until she passed. It was tough at times but looking back I have no regrets.

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This is awesome!!

My mom is the same and allows us to claim her as a dependent. Helps my sister as she lives with her and her husband while providing the tax credit.

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